American retailer Boot Barn's net sales reach $520.4 mn in Q3 FY24

However, the company reported a significant decline in same store sales, which decreased by 9.7 per cent. This downturn was evident in both segments of its operations—retail store same store sales fell by 9.4 per cent, and e-commerce same store sales saw a sharper decline of 11.3 per cent, the company said in a press release.

Despite the decline in same store sales, Boot Barn Holdings expects a positive outcome in terms of net income per diluted share. The company anticipates reporting a figure at or above the high end of its previously announced guidance range of $1.79.

The company successfully opened 11 new stores, contributing to a total of 37 new stores opened year-to-date. As a result, the company's total store count has now reached 382.

“Our third quarter played out largely as we expected with new store sales offsetting a decline in same store sales as we cycled outsized comp growth in prior years. We opened 11 new stores in the quarter, contributing to a 1.1 per cent growth in total net sales. This modest sales growth combined with discipline around promotions and strong expense control drove an increase in earnings per share compared to last year,” said Jim Conroy, president and chief executive officer.

ALCHEMPro News Desk (DP)